Property costs in NZ - the heart of evil

[Brian d marge]

I might even buy it hahaahaha

Stephen

[unstuck]

I might even buy it hahaahaha

Stephen

OI , You stay away from KB when drunk ....yes you...

[Brian d marge]

OI , You stay away from KB when drunk ....yes you...

oi its only 2 in the afternoon here , give us a chance

mind you , the repayments on that is less than I piss up against the wall , 2 or 3 times a week ....

a coat of paint , and some IKEA funiture !

Stpehen

[unstuck]

oi its only 2 in the afternoon here , give us a chance

mind you , the repayments on that is less than I piss up against the wall , 2 or 3 times a week ....

a coat of paint , and some IKEA funiture !

Stpehen

Not a silly idea really, spend a bit tidying it up and use it for a rental for stewart island backpackers.
When we moved down here a fella offered me his place, 3 bdrm double garage and a couple of acres for 40 grand, and I said no. just sold a couple of months ago for 210.000 grand.

[Brian d marge]

Does invergiggle have internet, thats the question

at least 100 Mbps ,

I dont like to wait for me eerrr "prom" movies

Stephen

[unstuck]

I am sure Invers has the net, no friggin Idea what a mbps is.

[jonbuoy]

Heres hoping NZ house prices stagnate rather than free fall as has happened in a lot of countries. Spains biggest problems have been from huge amounts of toxic property debt which the government had to swallow. For a long time here you couldn't loose by just buying property and holding onto it for a couple of years. People were scrambling as fast as they could onto the ever climbing property price escalator, house prices easily outstripped any deposit savings you could try and make in a year. Investors and home buyers snapped up new developments and properties as fast as they could. Sound familiar? That was pretty much how things were last time I was in NZ.

Problem is the foreign investment tends to get pulled as soon as they see a possible low or negative return, triggering off a hideous self feeding price plummet.

[Swoop]

We need to start shooting people who promote political correctness. It just ain't right.

Yup.


I also laughed quite loudly when the new Long Bay development announced that they didn't include "low cost housing" into the area. Too fooken right! With all the bullshit and vast amounts of money spent getting things going on that project, who in their right mind would limit part of that when the scummier areas of Torbay do that already?

[flyingcrocodile46]

Yup.


I also laughed quite loudly when the new Long Bay development announced that they didn't include "low cost housing" into the area. Too fooken right! With all the bullshit and vast amounts of money spent getting things going on that project, who in their right mind would limit part of that when the scummier areas of Torbay do that already?

We can forget about seeing true "low cost housing" anywhere in Auckland unless someone is prepared to give property away (i.e sell sections for half price). Apart from the odd granny flat built in the back yards of existing properties for family (or illegal rental income) there aren't likely to be many instances where the home owner wants a down spec house while also having enough equity to avoid the necessity of maximising capital gain in order to meet minimum mortgage equity requirements while they are having to pay a quarter of a million dollars + just to get a section to build on. Yes I know there are some half sites available for less, but they are generally undesirable sites because of additional development costs that are required in order to make them buildable.

We'll see true affordable housing in Akld when flat or near flat builable sites are available for $100K or less. that will never happen now as people who own the land and rely on it for investment return aren't going to give it away and the land development costs for residential use in Akld are likely to cost more than that anyway. Even the govt land at Hobsonville point is being sold for maximum return (and to be fair.. should be).

Until such time as capital gain taxes are introduced to eliminate the undesireable effect of investor speculation in land and rental properties there will be an ever increasing imbalance in property ownership and the satisfaction of genuine/appropriate needs for property.

[scumdog]

We can forget about seeing true "low cost housing" anywhere in Auckland unless someone is prepared to give property away (i.e sell sections for half price). Apart from the odd granny flat built in the back yards of existing properties for family (or illegal rental income) there aren't likely to be many instances where the home owner wants a down spec house while also having enough equity to avoid the necessity of maximising capital gain in order to meet minimum mortgage equity requirements while they are having to pay a quarter of a million dollars + just to get a section to build on. Yes I know there are some half sites available for less, but they are generally undesirable sites because of additional development costs that are required in order to make them buildable.

We'll see true affordable housing in Akld when flat or near flat builable sites are available for $100K or less. that will never happen now as people who own the land and rely on it for investment return aren't going to give it away and the land development costs for residential use in Akld are likely to cost more than that anyway. Even the govt land at Hobsonville point is being sold for maximum return (and to be fair.. should be).

So...the advantages and benefits of living in that area are?...are??

[flyingcrocodile46]

So...the advantages and benefits of living in that area are?...are??

Funny you should ask

[unstuck]

My first job when I left school in 1982 was on the farm that was owned by sunline homes, and incorperated some of the ARC reserve.Basically all the way from the southern end of long bay to okura estuary. They turned down an offer for $20 million when I was there, it is staggering to think what it may cost nowadays.

[Indiana_Jones]

Problem is the foreign investment tends to get pulled as soon as they see a possible low or negative return, triggering off a hideous self feeding price plummet.

You make it sound like a bad thing....

-Indy

[unstuck]

There seems to be a few resonably priced houses in Otautau at the moment too, been looking at this one here...http://www.trademe.co.nz/property/re...-526866922.htm

[jonbuoy]

You make it sound like a bad thing....

-Indy

Ha well a price plummet isn't good for anyone - including people who are looking to buy a first home. It comes with all sorts of other economic baggage....